Monday, November 20, 2006

Forex News: The UK budget deficit (PSNCR) was largely down in October

The UK budget deficit (PSNCR) was -8.4bln stg in October, the National Office of Statistics reported today. The index was expected to reduce to -4.6bln stg, compared with +12.3bln in September.

The annual balance of the country’s incomes and spending improved, reflecting positive changes in the monthly picture. In October 2006, the surplus of public sector budget was 4bln stg, compared with 2.3bln ) in October 2005.

It is important to note that the public sector recorded surpluses as far back as in the period of 1998/9-2001/2 fiscal years. Since 2002/3 to September 2006, the National Office of Statistics recorded deficits

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